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Et 18sep

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  • 1. ET NEWS
    Manminder Singh
    MBA 2-C
  • 2. The country's top private sector lender, ICICI Bank, made its entry into the list of the top-10 most valuable companies by market capitalisation this week, helped by a sharp rise in banking stocks. With a market capitalisation (m-cap) of 1,28,016 crore, ICICI Bank now features at tenth rank in the list, knocking state-run BHEL out of the prestigious club. During the past week, ICICI Bank added Rs 10,809.4 crore to its m-cap. 
    ICICI joins club of 10 most valuable companies
  • 3. Despite gold having crossed Rs 19,000 per 10 gram, India’s leading gold jewellery retailers are gearing up for higher sales during this festival season thanks to a good monsoon and resurgent economy. Retail chains such as Tanishq, Gitanjali Gems, Rajesh Exports, Shrenuj and others are expecting 40% growth in festival demand this year. 
    High price to be no deterrent for festive gold sales
  • 4. Tata Motors is understood to be mulling a hike in the price of its passenger cars, Indica and Indigo, by a "significant" amount with effect from October 1 next month. According to an internal communication circulated among top Tata Motors officials, the company plans to hike prices to minimise the impact of rising input costs, particularly tyres. 
    Tata Motors mulls hike in price of Indica, Indigo
  • 5. Realty firm Ansal Properties and Infrastructure (Ansal API) plans to invest about Rs 4,500 crore to develop the second phase of its 2,500 acre hi-tech city adjoining Greater Noida. The company would soon launch the second phase of its integrated township 'Megapolis' at Dadri covering 650 acre of area where it would offer 1,900 plots and build nine million sq ft each of housing and commercial space. 
    Ansal API to invest Rs 4,500 cr in hi-tech city in UP
  • 6. The project cost for the second phase would be around Rs 4,500 crore and the company expects to realise nearly Rs 7,500 crore in the next three-four years.
    Cont….
  • 7. Reliance Industries, India’s largest company by market value, is considering to invest in Chesapeake Energy’s shale-gas assets. The Indian energy explorer controlled by MukeshAmbani has been reviewing the assets for some months. Chesapeake, which has about 600,000 acres in Eagle Ford shale in south Texas, is negotiating joint ventures with “a couple of different parties”.
    RIL considers investment in US co’s shale gas assets
  • 8. Consumer durable makers have decided against a hike in prices in the festive season, which sees a jump in sales, despite a rise in raw material prices. Steel makers like Tata Steel, SAIL, Jindal Steel, among others, have recently raising prices. Durable makers such as Godrej & Boyce, Samsung and Videocon have said that they would rather absorb the high costs than play party pooper for their consumers.
    There has been a 4-5% increase in the input costs for durable makers. 
    Durables makers won't hike prices this festive season